McNally Bharat Engineering Company ended at Rs 63.55, up 2%. The stock clocked a volume of 171,108 shares at the BSE.
Updated at 1426 hrs
McNally Bharat Engineering Company surged on acquisition deal with German company.
The stock has gained over 2% at Rs 63. It opened flat at Rs 62 and touched a high of Rs 65.40. 127,156 shares have been traded on the counter at the BSE so far.
The company has informed the BSE today that it has signed a MoU with KHD Humboldt Wedag International GMBH and its subsidiaries in Germany, India and in Hong Kong.
As per the agreement, McNally will buy Humboldt's engineering workshop and their coal and mineral technology business based in Germany, India, South Africa, Russia and China. Total turnover of this business is estimated to be around $ 50 million.
